About Us

Vision

The vision of the Community Development Financial Institutions Fund (the CDFI Fund) is an America in which all people and communities have access to the investment capital and financial services they need to prosper.

Mission

The CDFI Fund's mission is to expand economic opportunity for underserved people and communities by supporting the growth and capacity of a national network of community development lenders, investors, and financial service providers.

Overview

The CDFI Fund was created for the purpose of promoting economic revitalization and community development through investment in and assistance to community development financial institutions (CDFIs). The CDFI Fund was established by the Riegle Community Development and Regulatory Improvement Act of 1994, as a bipartisan initiative.

The CDFI Fund achieves its purpose by promoting access to capital and local economic growth in the following ways:

  1. through its Community Development Financial Institutions Program by directly investing in, supporting and training CDFIs that provide loans, investments, financial services and technical assistance to underserved populations and communities;
  2. through its New Markets Tax Credit Program by providing an allocation of tax credits to Community Development Entities which enable them to attract investment from the private-sector and reinvest these amounts in low-income communities;
  3. through its Bank Enterprise Award Program by providing an incentive to banks to invest in their communities and in other CDFIs;
  4. through its Native Initiatives, by taking action to provide financial assistance, technical assistance, and training to Native CDFIs and other Native entities proposing to become or create Native CDFIs;
  5. through its CDFI Bond Guarantee Program by issuing bonds to support CDFIs that make investments for eligible community or economic development purposes; and
  6. through its Capital Magnet Fund, which offers competitively awarded grants to finance affordable housing solutions for low-income people and low-income communities nationwide.

Since its creation, the CDFI Fund has awarded over $2 billion to community development organizations and financial institutions; it has awarded allocations of New Markets Tax Credits which will attract private-sector investments totaling $43.5 billion, including $1 billion of special allocation authority to be used for the recovery and redevelopment of the Gulf Opportunity Zone.

»  View the CDFI Fund's Fact Sheet (English / Español)

»  Read the CDFI Fund Statement on Non-Discrimination

»  View the CDFI Fund's Organizational Chart

2014

​​​October 1, 2014- ​Treasury commemorates the 20th Anniversary of the CDFI Fund.​

October 2, 2014- Announcement that $525 million was guaranteed in the first two rounds of the CDFI Bond Guarantee Program.

2011

September 14, 2011- Announcement that 12 CDFIs received $25 million in awards through Healthy Food Financing Initiative under the CDFI Program.

2010

October 14, 2010- Announcement that 23 CDFIs and nonprofit organizations received $80 million in first round of Capital Magnet Fund.

2014

​​​October 1, 2014- ​Treasury commemorates the 20th Anniversary of the CDFI Fund.​

October 2, 2014- Announcement that $525 million was guaranteed in the first two rounds of the CDFI Bond Guarantee Program.

2011

September 14, 2011- Announcement that 12 CDFIs received $25 million in awards through Healthy Food Financing Initiative under the CDFI Program.

2010

October 14, 2010- Announcement that 23 CDFIs and nonprofit organizations received $80 million in first round of Capital Magnet Fund.

2009

January 6, 2009- The American Recovery and Reinvestment Act of 2009 is signed into law, providing an additional $3 billion in allocation authority available through the NMTC Program and an additional $100 million through the CDFI Program.

August 21, 2009- CDFI Fund launches Capacity Building Initiative.

2005

December 21, 2005- The Gulf Opportunity Zone Act of 2005 is signed into law, providing an additional $1 billion in allocation authority through the NMTC Program.

2003

March 14, 2003- Announcement that 66 organizations received $2.5 billion in allocation authority in the first round of the NMTC Program

2002

August 5, 2002- Announcement that 36 organizations received over $2.5 million in awards in the Native American CDFI Technical Assistance Program.

2000

December 21, 2000- The Community Renewal Tax Relief Act of 2000 is signed into law creating the New Markets Tax Credit Program.

1996

February 2, 1996- First meeting of the Community Development Advisory Board.

July 31, 1996- Announcement that 31 organizations received $35.5 million in awards in the first round of the CDFI Program.

October 1, 1996- Announcement that 38 banks and thrifts received $13.1 million in awards in the first round of the BEA Program.

1995

October 19, 1995- A Notice of Funds Availability (NOFA) is published in the Federal Register officially opening the first funding rounds of the CDFI Program and BEA Program.

1994

September 23, 1994- The Riegle Community Development and Regulatory Improvement Act of 1991 is signed into law creating the Community Development Financial Institutions Fund (CDFI Fund) and the Community Development Advisory Board. The CDFI Program and Bank Enterprise Award Program (BEA Program) are the first authorized award programs of the CDFI Fund.